Businesses are always looking for smart ways to cut unnecessary costs. By reducing their overhead, they position themselves to reach more customers and increase their overall revenue. For many companies, this means focusing on ways to improve their margins. They may experiment with less-expensive materials, adopt sweeping efficiency protocols in their factories or explore alternative manufacturing methods. Each of these may be an effective means of saving money but concentrating on the product could mean ignoring another effective way to trim expenses. Packaging costs are too often overlooked when trying to improve efficiency, but they can have a significant impact on profitability. Fortunately, there are a number of steps a company can take to lower those costs.
For example, redesigning packages from the ground up can have a substantial impact, especially if the existing designs have been used for several years. New technologies and materials become available all the time, making it possible for packaging to be made more efficiently and affordably. A business also may be able to realize significant savings by moving to digital printing. This can make smaller and mid-sized runs more cost-effective for certain product lines. It also prevents the buildup of excess inventory, which is one of the biggest issues affecting revenue.
Although your packaging may not be your first action item when it comes to reducing costs, it definitely should move up your list. For five ways to reduce how much you spend on your packaging processes, take a look at the accompanying infographic.
About the Author
Ashley Diehl is Nosco’s Web and Content Marketing Specialist. She helps create content and dial in ideas to communicate with customers and produce successful marketing collateral.
